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I get a lot of emails and PM's from people seeking advice. Usually they've been losing money and don't really know what to do next. But I received a particular letter recently that made me want to write this post.
What are some of the characteristics …
Titled "Time to give up" has received a very disproportional number of views compared to a normal thread with a similar number of replies. In other words, people were attracted to the thread.
You can say I was being overly sensational or dramatic, but the reason I titled the thread "time to give up" was because I wanted to get people's attention and hoping they could find some commonality or relate to the experiences I was sharing, and ultimately benefit from it. The same is true when I highlight someone's post on Twitter that I feels needs some help, I do it because it's my wish that they will receive input from varying angles that will allow them to improve or not make some terrible mistakes.
This is not limited to nexusfi.com (formerly BMT). For years, I noticed that on other communities the threads where someone was struggling always received a disproportional amount of views. It's important that I am saying views -- not responses. I think it's normal for people to also want to help, so when they see someone struggling they try and help. This can account for extra responses to these types of threads.
But the views are what interests me, why are more people attracted to view this type of material?
Look at sites like Zerohedge. Their entire business model is "doom and gloom". In fact, there are entire so called "news" organizations in the main stream media who's entire model is built on negativity.
Doom and gloom, negativity -- it sells. Why is this?
People relate to failure because it is easier. They've experienced it, they wallow in it. Wading through threads and post like that provides them comfort.
People have a harder time relating to success, because it is harder to experience.
I like to bask in glory, surround myself with successful people, and think of bigger and better.
I think you need to approach this from a psychological point of view, in order to understand the 'attraction'.
A lot of people are attracted to immediate results.
It is a lot less interesting for this people to read something difficult and with a long effort (learning curve) and that will not immediately give returns. That is unfortunately a fact, those people are looking for the 'quick bucks'.
In the psychological extent of this, some people might also think if they read about what goes dramatically wrong, it is an easy course to avoid the wrong and only do the good. Unfortunately it does not work like that. You can make a 10 or 20 bullet point summary of all the bad things you can do in trading, people will read it, and when at the screen they will do exactly the same things...
As a result, part of this has become an industry...
And its a self fulfilling process.
This is how I know it's a psychological thing. Look at this from just now:
People are purposely avoiding the link, because they want to tell themselves they are not attracted to it -- because they think being attracted to it is negative, and they don't want to have a negative image of themselves.
i think a lot of traders are insecure about their performance and when they are trying to improve its easier (as tt mentioned) NOT to do something than it would be to take the appropriate actions that will truly improve their results.
I notice this when I read about trading "rules" and most of them always refer to in-action, or to NOT do something such as "never take a trade when this <insert indicator here> is doing such and such" or "never take trades after 11 am" or "dont trade when its full moon" .. you get my point.
it may also be that it makes people feel better about themselves to hear others having it worse, giving them a feeling as though they are doing something right.
That's funny (as in peculiar).... The attraction is to negatives happening (to someone else), but they don't want to actually face the fact of the attraction.